Northern Equipment Corporation purchased all the outstanding common stock of Pioneer Equipment Rental for $5,530,000 in cash. The book values and fair values of Pioneer's assets and liabilities were: Accounts Receivable Buildings Equipment Accounts Payable Net assets Book Value $ 680,000 4,030,000 100,000 (820,000) $3,990,000 Fair Value $ 580,000 4,730,000 190,000 (820,000) $4,680,000 Required: 1. Calculate the amount Northern Equipment should report for goodwill. Goodwill